Black Sea freight stagnates due to low number of deals

Market activity has fallen due to an industry event in Greece — the number of deals concluded was too small to determine the direction of rates.

Rates on the Black Sea freight market remain at the previous week’s levels. This was reported by ASAP Agri analysts.

It is difficult to determine the direction of their movement due to the sharp drop in market activity — most industry participants were present at Posidonia in Athens.

Despite the limited number of deals, market fundamentals remain unfavorable for shipowners. Pressure from charterers persists.

As of June 5, “coasters” from the Danube to the Eastern Mediterranean were held at around $40/MT, and “handy sizes” from Black Sea ports to the ECI — around $23–24/MT.

USM also recently wrote that the Government approved the Export Strategy until 2030.